Lyft wants to show the world that it's long from giving up the fight against Uber, and have confirmed a new round of funding worth $600 million. This puts them at nearly $3 billion in aggregate funding. Although it's still a far cry from the $9 billion of Uber, Lyft is looking to close the gap.
Following a string of backlash regarding Uber's business practices, Lyft is capitalizing by crafting their image as a company that takes care of it's employees and community, to good effect. Compared to last year, Lyft has seen a 142 percent increase new passengers week over week, including a 60 percent increase directly following the #deleteuber campaign.
This time, the second-largest ride-hailing service in the US has captured the attention of several notable global investors including AllianceBernstein, Baillie Gifford, KKR, and Canada’s Public Sector Pension Investment Board (PSP).